China Southern Airlines Warrant Reproduces Doomsday Round Speculation Guotai Jun'an Restricted Purchase

Less than 10 days from the last trading day, the China Southern Airlines warrants reappeared the "doomsday theory" speculation on the 5th day, with the highest intraday increase of more than 25%, and was once suspended due to speculation in the afternoon.

The warrant of China Southern Airlines soared in the afternoon of the 5th, rising rapidly, and then was suspended by the exchange. After the resumption of trading, the warrant of China Southern Airlines rose again, with a rise of more than 25%. Although it fell sharply in the end, it still rose 9.82% at the closing, ranking first in the rise of the warrant on the day.

On the same day, Guotai Jun'an Securities Co., Ltd. announced that due to the recent excessive speculation of China Southern Airlines' warrants, the participation of Guotai Jun'an's customers has continued to rise and the market share is too large. In order to avoid serious impact on the transaction price and misleading other investors due to the continuous large amount declaration of a single seat, On the 5th, all customers of the company were restricted to buy warrants of China Southern Airlines for one day.

Previously, the warrant of China Southern Airlines had been temporarily suspended by the Exchange due to speculation for many times. Shanghai Stock Exchange also issued a notice on matters related to the cash settlement exercise of China Southern Airlines warrants, Southern airlines The Special Notice on the Last Trading Date and Maturity Date of China Southern Airlines JTP1 Put Warrants was also published repeatedly.

China Southern Airlines warrants will complete its last day of trading on June 13 and expire on June 20. It is understood that the final settlement price of this warrant is the average closing price of China Southern Airlines ten trading days before June 20. China Southern Airlines closed at 10.63 yuan on the 5th. Analysts believe that it is extremely unlikely that the settlement price of China Southern Airlines warrants is lower than the exercise price of 7.43 yuan. This means that the current value of China Southern Airlines warrants is zero.

Due to the T+0 trading system, warrants can be bought on the same day and sold on the same day, and there is no limit on the decline limit. The daily rise and fall range of warrants is much larger than that of regular stocks. The price difference caused by this volatility makes them vulnerable to the favor of active speculative funds and speculation. (Reporter Zhao Xiaohui, Tao Junjie)